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Thursday, 3 July 2014

Colgate-Palmolive to open factory in Myanmar

The Myanmar Investment Commission (MIC) has given U.S. company Colgate-Palmolive a licence to produce commodities in Myanmar.

The company applied to the Directorate of Investment and Company Administration (DICA) to create Colgate-Palmolive (Myanmar) Ltd., and was granted permission on May 29. The MIC fully licensed the company on June 13.

“We’ve experienced that Western companies run business in Myanmar under their regional company branch. This is more convenient to discuss economic measures. The head company provides the capital and directs the branches to operate franchise chain,” said an official from DICA.

The company — known for its famous brands and beauty products — will run business in Myanmar under its company chain in Thailand and plans to open a factory in Shwepyitha Township.